FMDQ Wins CAMCAN Award for the Development and Transformation of the Nigerian Debt Capital Market
FMDQ OTC Securities Exchange (“FMDQ” or “OTC Exchange”) on Saturday, September 29, 2018 won an award “In Special Recognition of FMDQ’s Contribution towards the Development and Transformation of the Nigerian Debt Capital Market” at the CAMCAN Nigerian Capital Market Performance Awards 2018, which held at Civic Centre, Victoria Island, Lagos. The Award pays tribute to and validates FMDQ’s efforts towards revolutionising the Nigerian debt market and confirms that it lives true to its culture of innovation, through the implementation of forward-thinking initiatives for the development of a well-developed debt capital market in Nigeria.
According to the Associate Executive Director, Capital Markets, Ms. Tumi Sekoni, whilst receiving the Award for the OTC Exchange, investor education is critical in achieving retail participation in the nation’s capital market. While commending CAMCAN for recognising FMDQ for its contribution towards the development and transformation of the Nigerian Debt Capital markets, she also thanked the Association for being partners in developing the market with their professionalism in reporting the initiatives and activities of FMDQ and its markets. She further enumerated the various initiatives of FMDQ; highlighting that from its visionary stride in successfully facilitating the Naira-settled OTC FX Futures Market, launching the short-term bonds product, pioneering a market-focused education initiative, the FMDQ Academy, to championing the market-wide Nigerian Debt Capital Markets Development Project, FMDQ has indeed, and in no small measure, created value geared towards the ultimate growth and development of the Nigerian economy.”
Registered by the Securities and Exchange Commission, Nigeria (SEC) in 2012, FMDQ operates the largest securities exchange in Nigeria, with an annual turnover of circa $560 billion over the last four (4) years, as well as the only central clearing house, positioned to deliver end-to-end clearing and settlement services that will help enhance the integrity and eliminate the inherent risks to bilateral and multilateral trades settlement in the Nigerian capital market.
FMDQ, Nigeria’s foremost debt capital, foreign exchange and derivatives over-the-counter (OTC) securities exchange and clearing house, offering, amongst other world-class services, an efficient platform for the registration, listing, quotation, noting, trading, order execution, post-trade and trade reporting of fixed income, currency and derivatives products, remains resolute in its goal to keep challenging norms and aims to continue to strive in its pursuit to empower the financial markets to be innovative and credible, in support of the Nigerian economy.